Survey Finds UK Firms Positive about Economy but Sceptical about Government

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1st August 2013 15:26 - Central Government

Central Government Market Research has discovered that according to many leaders of FTSE 100 firms, the UK’s political class is cumbersome and is hindering progress when it comes to the nation's businesses.

Conducted by executive search and talent management consultancy Korn/Ferry Whitehead Mann, the survey found that as many as 89% of the respondents (chairmen and women of FTSE 100 firms) think that UK politicians are holding back the country's commercial potential.

Nevertheless, the surveyants were more optimistic about the UK's gradual economic recovery - 61% agreed that it is sustainable. This has been demonstrated by the fact that the UK economy grew by 0.3% in the first quarter of 2013, further rose to 0.6% in the subsequent three months.

Furthermore, market research by BDRC Continental found that 21% of the 500 British firms who took part in its monthly Business Horizons survey - which asks businesses to categorise themselves as forging ahead, progressing steadily, coping cautiously, or hard hit - reported that they were "forging ahead" in June, representing a rise of 13% in May.

Meanwhile, a quarterly survey of chief financial officers (CFOs) by Deloitte also confirmed that confidence is building amongst UK firms - 45% of respondents were of the opinion that it is time to put more risk on their company's balance sheets and this risk appetite among CFOs is now at the highest level in six years.

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